Building a Budget as a Recent Grad


Building a Budget as a Recent Grad

By:  Rae Steinbach | Freelance Editor

The weeks and months after you graduate high school or college can be very exciting. For the first time in your life, you have all the freedoms of an adult. That said, you also probably have more financial responsibilities.

That’s why it’s important to learn how to budget properly. You may want to take advantage of your newfound independence and move abroad. Before doing so, though, you’ll need save money and budget for things like international renters insurance and travel costs. When you stick to a budget, it becomes a lot easier to enjoy those new adult freedoms instead of stressing about money all the time. The following tips will help:

Start Your Budget

A lot of young people don’t like the idea of making a budget because it sounds too much like homework. Sitting down with a pen and paper every week to calculate your expenses isn’t exactly anyone’s idea of a good time.

Related: A financial phenom found clarity for the future.

Luckily, you don’t need to go the old-fashioned route. There are plenty of budgeting apps available that make the process a lot simpler. If you don’t want to spend a lot of time trying to maintain a budget, take a look at the available options and choose the one that best fits your needs. You can use these tools to easily track your earnings and expenses. Keep in mind that the goal is always to have more money coming in than going out.

Open Accounts

If you don’t already have a checking and savings account, open them to start saving.

A little bit of research will make it clear that you have many options when choosing what types of accounts to open. You need to weigh a few factors, including how accessible a particular bank is, what features their accounts offer, the types of service fees you may incur, and more. Take your time deciding where to open an account.

Related: How this Money Maven found a Passion to Serve

You might also want to get a credit card. This can be risky if you’re not careful with your spending habits. But, if you’re responsible, having a credit card and using it wisely can help you build your overall credit.

Get Insurance

Hopefully, your employer will provide health insurance. If they don’t, you should buy it on your own. You may also need insurance for your vehicle if you own one.

Most recent grads don’t own their homes. Instead, they choose to rent. That’s why it’s a good idea to purchase renters insurance. Renters insurance is much more affordable than many realize, and it can protect you from major financial consequences.

Start Saving

It can be tempting when you’re young to spend all your money on fun experiences and new products. However, in the long run, it’s important to save as much as you can. Doing so helps you in the future when you may want to buy a home or make other major purchases. Additionally, having money saved helps in emergencies.

Again, thanks to technology, creating a budget doesn’t need to be a tedious process. If you’re a recent grad, start budgeting today. You’ll have a lot more fun during this exciting period when you know you’re financially secure.


Rae is a graduate of Tufts University with a combined International Relations and Chinese degree. After spending time living and working abroad in China, she returned to NYC to pursue her career and continue curating quality content. Rae is passionate about travel, food, and writing, of course. She is currently a guest editor for - a modern renters insurance company that’s helping to redefine how young shoppers navigate the confusing world of insurance.

This article is the opinion of the author and does not represent Jetty Inc.